British WhatsApp users must be on high alert and watch out for worrying new messages landing on their devices. According to a new report from the financial team at Revolut, Brits were scammed more on WhatsApp in 2024 than consumers in any other European country. It’s a worrying statistic that’s made worse by the sums of money lost to cyber crime.
Revolut says that, on average, £2,437 is lost per WhatsApp scam – that’s compared to £478 for those being targeted on Facebook.
The losses are thought to be worse on WhatsApp because people are more trusting of this service and believe that messages have come from someone they know. Because of this, fraudsters are increasingly targeting WhatsApp users, moving away from other platforms, with Revolut’s research suggesting that scams originating on WhatsApp have skyrocketed by 33 percent.
Messages to watch out for include job and Investment scams, which are not only the most common but also the most financially damaging.
“The illusion of security on encrypted messaging apps like WhatsApp is being ruthlessly exploited by criminals,” said Woody Malouf, Head of Financial Crime at Revolut.
“We’re seeing consumers increasingly letting their guards down to messages received on WhatsApp more than any other platform, perhaps due to the belief that if someone has their number, they have a legitimate reason for getting in contact. The significant financial losses, particularly from job and investment scams, demonstrate the devastating impact these frauds are having on individuals.”
Revolut says it now wants to see social media companies commit to sharing reimbursement for victims of scams originating on their platforms.
WhatsApp says that making sure its users stay safe is a top priority, and it also has plenty of tips to help stop people getting attacked.
“Creating a safe space for our users to communicate with each other is our priority,” explained WhatsApp is a security post.
“We work diligently to reduce any spam or unwanted messages that might be sent on WhatsApp. However, just like regular SMS or phone calls, it’s possible for other WhatsApp users who have your phone number to contact you. They may or may not be saved in your contacts.”
WhatsApp has posted some tips on how to avoid scams and what dangerous messages usually look like.
“There are clues that might indicate you’ve received a suspicious message, or that the sender can’t be trusted” WhatsApp added.
Look out for these signs:
• Typos or grammatical mistakes
• Asking you to tap on a link, activate a new feature through a link, or download an app
• Asking you to share your personal information, like credit card or bank account numbers, birth date, or passwords
• Asking you to forward a message
• Asking for money or claiming that you have to pay to use WhatsApp
• The scammer pretends they’re someone you know
• The message is about the lottery, gambling, a job, an investment, or a loan
• The person starts chatting with you to gain your trust before asking for personal information
